Yuan Halts Eight-Day Retreat as Data Signal Economy Steadying
- Figures unlikely to alleviate pressures much, Scotiabank says
- PBOC injects funds first time in a week after rates climb
China 3Q GDP Remains Steady at 6.7% on Year
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The yuan halted this year’s longest run of losses as data showed the nation’s economy is stabilizing.
The onshore exchange rate climbed 0.07 percent to 6.7370 a dollar as of 5:58 p.m. in Shanghai, ending an eight-day run of declines that saw it weaken to a six-year low. The offshore rate gained 0.05 percent, while the currency declined for a fourth day against a trade-weighted index.